LabStyle Innovation Signs Agreement with uHealth to Exclusively Distribute the Dario™ Blood Glucose Monitoring Device in Australia
CAESAREA, Israel, Feb. 4, 2014 /PRNewswire/ -- LabStyle Innovations Corp. (OTCQB:DRIO), developer of the Dario™ Diabetes Management Platform, announced today that the company has signed an agreement with uHealth Australia Pty Limited (uHealth), a leading distributor of digital health and surgical innovations, to exclusively distribute in Australia the Dario™ blood glucose monitoring device, one of the three main components of the Dario™ platform.
"We are excited to partner with uHealth, a pioneer in progressive health technologies and the perfect partner to bring the Dario™ blood glucose monitoring device to market in Australia," said LabStyle Innovations president and chief executive officer Erez Raphael.
According to the Australian Diabetes Council website, approximately 1.2 million Australians are officially diagnosed with diabetes. As per the National Diabetes Services Scheme (2013), diabetes prevalence has increased approximately 7.2% per annum since the year 2000 in Australia. Based on this, by 2018, the Australian Diabetes Council expects the number of people with diagnosable diabetes to total approximately 2.65 million.
"Diabetes is Australia's fastest growing chronic disease, with one in four Australian adults, and two children a day, diagnosed with diabetes or impaired glucose metabolism," said Mr. Will Knox, director of uHealth. "We are enthusiastic about bringing the cutting-edge Dario™ blood glucose monitoring device to the Australian market and improving the quality of diabetes healthcare for adults, children and their concerned families."
Mr. Raphael continued, "Living with diabetes is a daily challenge, requiring continuous management of blood sugars, food, activities, and stress levels. Dario™ is designed to make life simpler for people with diabetes by helping them to more easily track blood sugar changes, to better understand why there are changes and what to do next. With Dario™, diabetes management is not only about generating accurate glucose measurements but also gathering and providing practical information, analysis and suggestions, including via social channels, to help those with diabetes make better informed decisions and improve their lifestyle."
Dario™ is the world's easiest-to-use diabetes management platform, combining 1) a stylish, compact, all-in-one, blood glucose monitoring device, 2) a novel mobile device software application that collects and delivers personalized information about when and why blood sugar levels change and offers daily motivation to users and 3) a website application which works similarly to the mobile app.
The Dario™ blood glucose monitoring device is a simple-to-use, pocket-sized device that draws a blood sample, dispenses a test strip and plugs into a mobile device to automatically track blood glucose levels in real-time, over time. The innovative Dario™ software application provides actionable insights and alerts based on personal pattern recognition sourced from real-time and historical blood sugar levels. The Dario™ mobile app is currently supported on the iOS operating system and will soon be available on Android devices.
Dario™ began its worldwide rollout with the iOS market launch on December 12, 2013 in the United Kingdom, New Zealand and Australia. Dario™ on iPhone is available, free of charge, in these countries via the iPhone App Store, and can be used with any glucose meter. Dario™ remains on course to launch the iPhone app in Italy and Belgium and the Dario Android app, in the United Kingdom, New Zealand, Australia, Italy and Belgium – both during first quarter 2014. Plans are also on track to begin distributing the Dario™ blood glucose monitoring device in the United Kingdom and Italy during first quarter 2014. To date, LabStyle has signed distribution agreements covering the UK, Australia, New Zealand and Belgium.
About LabStyle Innovations
LabStyle Innovations Corp. (OTCQB:DRIO) develops and commercializes patent-pending technology providing consumers with laboratory-testing capabilities using smart mobile devices. LabStyle's flagship product is the Dario™ Diabetes Management Platform. Dario™ received CE mark certification in September 2013 and began a world rollout in select countries in December 2013. LabStyle filed a Premarket Notification Application, also known as a 510(k), with the US Food and Drug Administration (FDA) for the Dario™ Blood Glucose Monitoring System in December 2013. LabStyle is pursuing patent applications in multiple areas covering the specific processes related to blood glucose level measurement as well as more general methods of rapid tests of body fluids using mobile devices and cloud-based services. For more information: www.mydario.com and http://mydario.investorroom.com.
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and partners of LabStyle Innovations Corp. (the "Company") related thereto contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the results of the distribution arrangement and the results of the Company's commercial and regulatory plans for Dario™ as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Dario™ and the Dario™ logo are trademarks owned by LabStyle Innovation Ltd.
© 2014 LabStyle Innovations Corp. All rights reserved.
SOURCE LabStyle Innovations Corp.